First County Bank CT Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

First County Bank CT lessened its stake in Philip Morris International Inc. (NYSE:PM) by 7.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,422 shares of the company’s stock after selling 2,300 shares during the quarter. Philip Morris International makes up about 1.5% of First County Bank CT’s investment portfolio, making the stock its 14th largest position. First County Bank CT’s holdings in Philip Morris International were worth $2,880,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its position in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Philip Morris International during the second quarter valued at $25,000. Sachetta LLC grew its stake in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its stake in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after buying an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. UBS Group boosted their target price on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $119.14.

Philip Morris International Stock Down 0.7 %

Shares of NYSE:PM opened at $120.84 on Friday. The company has a market capitalization of $187.88 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. The firm has a 50 day moving average of $119.33 and a 200 day moving average of $105.39. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s payout ratio is currently 101.56%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.